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Coins, Currency, and Medals

The Museum possesses one of the largest numismatic collections in the world. The collections include over 1 million objects, comprising coins, medals, decorations, and pieces of paper money. Among the many great rarities here are some of the world’s oldest coins, created 2,700 years ago. But the collection also includes the latest innovations in electronic monetary exchange, as well as beads, wampum, and other commodities once used as money. A special strength lies in artifacts that illustrate the development of money and medals in the United States. The American section includes many rare and significant coins, such as two of three known examples of the world's most valuable coin, the 1933 double eagle $20 gold piece.

United States Mint, Philadelphia. Designs as used on earlier double eagles, but with tall letters for legends on reverse. This unique pattern combined the normal obverse by James B. Longacre with an experimental reverse by Anthony C. Paquet. Paquet's innovation was to recast the letters in the reverse legend. Those letters had been block capitals on all earlier double eagles. Paquet intrtoduced a new, more vertical format for the letters.

A few thousand coins with the Paquet reverse were minted in San Francisco at the beginning of 1861 (and a handful more at Philadelphia that same year). However, Paquet's innovation did not find favor at that time. [reference no. Judd 272a]

This coin bears the motto IN GOD WE TRUST in the year before it was adopted for circulating coinage. Specialists refer to this piece as a Rarity-8 pattern by which they mean that only two or three are known. [reference no. Judd 445]

United States Mint, Philadelphia. Obverse: Liberty head with coronet left, date below. Reverse: Eagle above, denomination below. This is another transitional pattern. The new element is the motto which would appear on circulating coinage the following year.

United States Mint, Philadelphia. Obverse: Liberty head with coronet facing left, date below. Reverse: Eagle, denomination below. This coin is termed a transitional pattern. Transitional patterns are patterns which were, in fact, adopted. However, a transitional pattern shows a date before the year in which the design was actually adopted for circulating coinage. The different element in this pattern is the motto over the eagle, IN GOD WE TRUST. It would appear on normal coinage the following year. This coin is assigned a Rarity-8 by specialists, suggesting that only two or three exist. [reference no. Judd 449]

Produced by the Clark, Gruber & Company's mint, Denver, Colorado. Obverse: Head of Liberty facing left, date below, as on regular federal issues. Reverse: Eagle, denomination below. For its half eagles, Clark, Gruber & Co. abandoned the Pikes Peak motif that it used on its larger coins. The company brought the designs for the five dollar pieces into conscious imitation of regular United States coins.

This particular Civil War Token depicts a patriotic theme. The obverse, front of the coin, depicts a profile image of George Washington while the reverse, back, shows two hands shaking between laurel sprigs and the words “PEACE FOREVER.” One hand is labeled as the North and the other hand is labeled as the South.

This ten-dollar “greenback,” given this name because of the fraud-deterrent green ink on the back of the bill, features Abraham Lincoln and was redeemable for coinage. Demand notes, like this one, were released in August 1861, the first time government paper money was issued since the Revolutionary War. Although this money was distributed by the government, it was made by the American Bank Note Company, the same company that produced private bank notes.

The population data show that the 1860 double eagle is rather plentiful in circulated condition. There was also a significant quantity found on the S.S. Republic. The ship contained nearly 100 coins, a few of which have been certified as MS-64 or MS-65. Three or four MS-64 coins have been offered at auction in the last few years. The Smithsonian examples for the issue are very modest and grade just Extremely Fine

Until the treasure of the S.S. Central America was discovered, the 1861 Philadelphia issue

was the most common Type 1 double eagle. This is the issue most collectors thought of when trying to find an acceptable example of the type. The large mintage, the highest of any double eagle until 1904, makes the 1861 a common issue in most grades. Choice pieces are actually very rare. There have only been about 60 coins certified at that level. The finest known example of the date by far is an MS-67 coin. Nearly 500 examples of the date were found on the S.S. Republic. Most were in grades from AU-58 to MS-62.

Coins, like this silver dollar, were hoarded at the outbreak of war. This coin had inherent value because it was made from a precious metal. By 1862 metallic coins were rarely found in circulation. The Federal Government and private businesses alike felt the pressure to keep their financial and economic interests in check. Both thought the solution was to introduce new forms of currency.